March 06, 2012

ABA Signs 15-Year Lease in D.C.'s Farragut North Neighborhood

The American Bar Association announced Tuesday afternoon that it has signed a 15-year lease to house its D.C. offices in 1050 Connecticut Ave. N.W., in Washington's Farragut North neighborhood.

The ABA signed with Washington Square Limited Partnership to occupy 61,000 feet of the 707,000 square-foot building, according to an ABA press release. The move will consolidate the ABA staff in D.C. to one floor, as opposed to the seven floors it occupied in its previous space.

In December, the ABA sold its historic building at 740 15th Street, N.W., about a block from the White House, for about $69 million to JBC Funds, a real estate investment manager and entity of The John Buck Company. The commercial real estate firm Studley helped negotiate the sale of the old building and the signing of the new lease.

“The new location allows the ABA to more efficiently utilize its space,” ABA Executive Director Jack Rives said in a written statement. “With access to natural light on all four sides and an exceptional amenities package, the state-of-the-art facility offers an improved work environment for all employees.”

The ABA's two largest offices are in Chicago, its national headquarters, and Washington.

ABA officials were not immediately available to answer additional questions late Tuesday.